Is this a secret? This so-called “recovery” is fake, just like extend-and-pretend policies Obama approved for the banks. If the banks had been held accountable and cleaned up, we’d have a real recovery by now: Think your money’s not going very far this year? It’s not your imagination. According to new research by the Economic […]
Category Archive for 'The New Depression'
I was telling Swamp Rabbit about my Labor Day Weekend trip to Atlantic City, where three casinos are closing and more than 5,700 casino workers are being laid off over the next two weeks. “Closed” stickers were slapped onto the Showboat’s front doors by security personnel at 3 p.m. yesterday. Just like that, 2,100 people […]
Helicopter Ben says the Big Shitpile crash was even worse than the Great Depression.
And how it’s making the recession damage permanent. Still, some countries have managed to avoid, or at least start to climb out of, this “lowflationary” trap. Australia, for example, defines “price stability”more liberally than other countries—2 to 3 percent averaged over the business cycle—and that’s helped it keep rates and inflation from falling too far to begin […]
One of my friends just sent me this piece from Politico written by Nick Hanauer, a .01%er, “to my fellow zillionaires”: But let’s speak frankly to each other. I’m not the smartest guy you’ve ever met, or the hardest-working. I was a mediocre student. I’m not technical at all—I can’t write a word of code. […]
Yeah, no shit.
Most people I know who were lucky enough to get raises got only one or two percent: NEW YORK (AP) — If you hope to get a raise that finally feels like one, it helps to work in the right industry. Pay for all kinds of workers should be rising by this point in the […]
Oh, come on! It only has important implications for policymakers if they want to stop them: The lost jobs, sinking home values and stock market free-fall of the Great Recession led to a significant rise in suicides, according to a new study. At least 10,000 more Americans and Europeans took their own lives from 2007 […]
I think of the many people I know who got knocked down and never got back up. I think about my friend Lyn, who just couldn’t take it. I know there must be thundreds of thousands in the same horrible place: A comprehensive study of long-term unemployed published by Rutgers University’s John J. Heldrich Center for […]
But not enough yet to substitute public relations for substance: Yesterday’s Conference on Inclusive Capitalism co-hosted by the City of London Corporation and EL Rothschild investment firm, brought together the people who control a third of the world’s liquid assets – the most powerful financial and business elites – to discuss the need for a moresocially responsible […]